Inflation in Australia
Australia - Inflation (end of period)
Inflation dips in Q3
In the third quarter of 2018, consumer prices rose 0.4% over the previous quarter, according to the Australian Bureau of Statistics (ABS). The figure came in line with market expectations and matched the previous quarter’s reading. According to the ABS, Q3’s print was underpinned by higher prices for recreation and culture, alcohol and tobacco, transport, and food and non-alcoholic beverages, which were partially offset by lower prices for child care, pushed down by a government subsidy introduced in early July.
Inflation ticked down to 1.9% in Q3 from Q2’s 2.1%, again matching market expectations and just below the Reserve Bank’s 2.0%–3.0% target band. Substantial regional variations persisted: Inflation came in at 2.0% or above in Canberra, Sidney and Melbourne, whereas more subdued readings in Darwin and Perth dragged on the overall figure. Moderate wage growth likely continued to keep inflation in check and will give the RBA room to maintain its loose monetary stance in the months to come.
Met the why particular panelists expect inflation to average 2.3% in 2019, which is unchanged from last month’s forecast, and 2.2% in 2020.
Australia - Inflation (eop) Data
|Inflation Rate (CPI, annual variation in %, eop)||2.8||1.7||1.7||1.5||1.9|
5 years of economic forecasts for more than 30 economic indicators.
Australia Inflation (eop) Chart
Source: Australia Bureau of Statistics and Met the why particular calculations.
|Bond Yield||2.44||1.47 %||Dec 11|
|Exchange Rate||0.72||0.05 %||Dec 11|
|Stock Market||5,628||0.08 %||Dec 11|
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December 11, 2018
The business confidence index produced by National Australia Bank (NAB) declined to 3.2 points in November from October’s revised 4.5 points (previously reported: 4.2 points).
December 11, 2018
Nominal retail sales growth in October came in at 0.3% over the previous month in seasonally-adjusted terms, following September’s revised 0.1% expansion (previously reported: +0.2% month-on-month).
December 5, 2018
Australia’s economy slowed considerably in the third quarter, dragged down by a sharp slowdown in consumer spending, according to figures released by the Australian Bureau of Statistics (ABS) on 5 December.
December 4, 2018
At its 4 December monetary policy meeting, the Reserve Bank of Australia (RBA) again left the cash rate unchanged at the all-time low of 1.50% where it has been for over two years.
November 15, 2018
Seasonally-adjusted employment increased by 32,800 in October compared to the previous month, following the revised 7,800 jobs added in September (previously reported: +5,600 jobs) and overshooting analysts’ expectations for a gain of 20,000.